Tag: day trading

"Day Trading Made Simple" now playing on Trend TV

Posted on by The INO.com Team

William Greenspan has over 155 consecutive winning months using his "day trading" system. As a day trader since the early 70s, he has walked in the pits of the CBOT and CME practicing his philosophy of making "a million dollars on a million trades, not a million dollars on one trade."

Greenspan shares his strategy as well as best practices for successful trading on Trend TV…

"Discipline. That's the key to success in so many aspects of life and it's the main ingredient of any successful trading plan. But, what does discipline really mean to an intraday trader?

Discipline means taking small quick losses and letting your profits ride. That's the key to all successful trading. Discipline means using stop loss orders on every trade to limit your losses and moving your stop loss orders to protect your profit. That's kinda like grooming your position. When you have a profit in a trade, you should take your stop loss order and move it first to your break-even point, and then if your trade continues to trend your way, to always protect your profit along the way. Three, discipline means following all the buy and sell signals that your trading plan or system of trade has to offer you.

In all trading you must expect losses and you must accept them gracefully, because it may take only one mistake to wipe out the profits of ten winning trades…"

To watch the full video with William Greenspan, please visit Trend TV. Once you receive your password, you can visit Trend TV anytime and watch new videos as they are added.

We hope you will be able to use Greenspan's experience to grow your profits and protect you from that one big mistake.

Enjoy,

Trend TV Team

4 Steps to Mental Toughness for Short Term Traders

Posted on by The INO.com Team

As all MarketClub members know, psychology is a major factor in both investing and short term trading.  Chris Dunn, from the Emini Academy, is a major proponent of developing the proper mental mindset of a professional trader, and this week he’s contributing a helpful post on four steps you can take to have a strong trading mindset.
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In my opinion, day trading is top on the list of mentally stimulating professions.  It requires a mental toughness unparalleled by any other business.  For example, the influx of emotions and sensations felt by someone in a short-term trade can bring on fear stronger than that of certain death, or a euphoric sensation as if you just inherited a windfall of profits.

To become a professional trader with the ability to thrive in all market conditions, one must develop understanding and control over their personal psychological strengths and weaknesses.  In this article, we will talk about 4 steps that can help you develop a strong trading psychology and confidence to become a top-level day trader.

Step 1 – Build a Strong Foundation Continue reading "4 Steps to Mental Toughness for Short Term Traders" →

Why Day Traders of ’09 have become Swing Traders of ’10

Posted on by The INO.com Team

I was recently talking to Idan, CEO of FocalEquity.com, when he mentioned something I thought was worth repeating. From '09 - '10, Idan says that he has seen a major change in trader mindset. Idan believes that shorter term traders have moved to longer time frames due to a change in market conditions.

Read on to see how Idan has come to this conclusion and be sure to visit FocalEquity.com.

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As the CEO of www.focalequity.com, I have witnessed staggering changes in the minds of retail investors in 2009. The most interesting phenomenon was that most day traders have been completely swept out of the current type of market. Continue reading "Why Day Traders of ’09 have become Swing Traders of ’10" →

Can an egg timer improve your trading?

Posted on by The INO.com Team

True Story

When I started my career in this great business in the early seventies, I worked under a guy named Gary who  acted as a mentor to me.

Now Gary was definitely a character and his trading style was something else altogether.

Every time he made a trade he would flip an egg timer over and the sand would start running.

Now you have to remember, I was green to trading back then and had never seen someone with Gary's unique approach and trading style.  I just thought that having an egg timer on your desk and flipping it over every time you made a trade was a normal part of trading.

Have you figured out why Gary was using a egg timer?

Was it because ...

(A) He liked playing with egg timers
(B) He liked to time his poached eggs
(C) He used it for money management

If you chose (C) you are correct. Gary did use an egg timer for money management. It's not as crazy as you might think and it suited Gary's own style of trading perfectly.

You see Gary was using a TIME STOP.

How it worked is like this, Gary would see something on his intra-day charts that was a buy, and then buy it immediately. If it did not go up by the time the sand had finished running through his egg timer he would exit the market win, lose or draw. It was just that simple.

I never had the type of trading personality to trade like Gary, but I have to admit the egg timer worked.

You may want to give it a try only substitute the egg timer and use days or weeks as your time frame.

Adam Hewison
Co-founder, MarketClub.com

P.S. If you missed any of the "Traders Whiteboard" series watch them here.

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"Saturday Seminars" - Trade System Evaluation Methods

Posted on by lindsay

System developers all too often design systems that produce excellent returns on paper while disregarding real world influences. David presents a few of his own personal trading programs and discusses how to properly evaluate their returns.

This seminar reviews Dynamic Zones, Average RSI, VIX, Best Day system, Trix, and the KST System. David discloses the programming code for most of the systems discussed. The evaluation of these systems centers on statistical methods that highlight the strengths and weaknesses of any trading system. David also discusses his favorite trading instruments: OEX options and the Rydex Nova and Ursa mutual funds. He summarizes his relatively conservative approach to trading the general market through the use of these investment vehicles.

PDF Workbook

David Stendahl is a professional trader, registered investment advisor and Vice President of TradeSignals. David co-founded RINA Systems in 1995, a firm specializing in performance analysis software for traders and investors. He specializes in S&P futures, OEX options and S&P Index funds.

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Saturday Seminars are just a taste of the power of INO TV. The web's only online video and audio library for trading education. So watch four videos in our free version of INO TV click here.

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